In the wake of changes to Aviva’s legal structure, their international brand Aviva International Insurance Ltd. has had their credit rating of ‘AA-‘ kept on negative watch by Standard and Poor’s.
The affirmation was given because Aviva International “remains a regulated operating company; does not issue any debt; does not guarantee any further debt; and it will develop its internal reinsurance function over the coming months.”
Standard and Poor’s said Aviva International is a core entity to the Aviva Group, and they expect the branch to become “the most important risk-holding vehicle for the efficient external transfer of risk” which would benefit capital on a group level.
The rating mirrors that of the Aviva Group, and if the rating for them were to change they would expect that Aviva International would follow suit, the ratings agency said.
